Wealth Effects LLC Has $2.85 Million Holdings in Elastic (NYSE:ESTC)

Wealth Effects LLC raised its stake in shares of Elastic (NYSE:ESTC - Free Report) by 25.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,800 shares of the company's stock after purchasing an additional 5,830 shares during the period. Elastic accounts for 1.0% of Wealth Effects LLC's portfolio, making the stock its 15th largest position. Wealth Effects LLC's holdings in Elastic were worth $2,854,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the fourth quarter worth $25,000. Quarry LP acquired a new stake in Elastic in the 2nd quarter valued at $40,000. Eastern Bank acquired a new position in shares of Elastic during the third quarter worth about $61,000. FNY Investment Advisers LLC boosted its position in shares of Elastic by 87.3% in the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company's stock worth $74,000 after buying an additional 349 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Elastic by 21.2% during the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the company's stock valued at $198,000 after buying an additional 452 shares during the period. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Stock Performance

Shares of ESTC stock traded up $2.29 during trading hours on Friday, reaching $112.89. 774,117 shares of the company's stock were exchanged, compared to its average volume of 1,328,277. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $11.70 billion, a P/E ratio of 205.25 and a beta of 1.06. The business has a fifty day moving average price of $104.74 and a 200-day moving average price of $95.25.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer increased their price objective on shares of Elastic from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Stifel Nicolaus raised their price target on shares of Elastic from $98.00 to $132.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Piper Sandler lifted their price target on Elastic from $100.00 to $130.00 and gave the stock an "overweight" rating in a research note on Friday, November 22nd. Needham & Company LLC reissued a "hold" rating on shares of Elastic in a report on Friday, November 22nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $120.00 target price on shares of Elastic in a research note on Wednesday, November 20th. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $125.35.

Insider Buying and Selling at Elastic

In related news, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the sale, the insider now owns 92,011 shares in the company, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 in the last ninety days. Company insiders own 15.90% of the company's stock.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.